MMK raises workers’ wages
17 July 2008 (11:49)
President of MMK Management Company Viktor Rashnikov signed a provision on raising the basic rates and wages for Magnitogorsk Iron & Steel Works (MMK) employees.
Both the rates and the wages are to go up by 9% on July 1, 2008; this is part of the general program aimed at raising MMK employees’ pay. This is the second time the increase in wages has been introduced this year: the basic rates and wages have already been raised by 5% in April 2008. This regular indexation allows the enterprise to make sure the metallurgists’ wages leave the inflation rate behind. In 2007, MMK workers’ average wage went up by 25% compared to the year 2006, or from 19,852 RUR to 24,785 RUR a month, MMK’s PR Department reports.
Both the rates and the wages are to go up by 9% on July 1, 2008; this is part of the general program aimed at raising MMK employees’ pay. This is the second time the increase in wages has been introduced this year: the basic rates and wages have already been raised by 5% in April 2008. This regular indexation allows the enterprise to make sure the metallurgists’ wages leave the inflation rate behind. In 2007, MMK workers’ average wage went up by 25% compared to the year 2006, or from 19,852 RUR to 24,785 RUR a month, MMK’s PR Department reports.
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